European bank allocates €905m for road and rail

6 days The board of the European Investment Bank (EIB) has approved new financing of €905m (£775m) for road and rail transport projects in Austria, France, Germany, Latvia and the Netherlands.

Finance for Line 15 in Paris is included in the announcement (image by Alstom/Design & Styling)

The EIB will also support a series of other projects, included expansion of the 8km cross-border Karawanken tunnel between Austria and Slovenia, affordable housing in Berlin, a new hospital in Belgium and €177m of schemes to improve water supply, wastewater treatment and flood protection in Kosovo, Belarus and the Netherlands.

“The projects the EU Bank approved today will help people in very concrete ways: getting them quicker where they want to go, giving them access to cleaner water, helping them find affordable homes and get better hospital treatment,” said EIB president Werner Hoyer. “The EIB is Europe’s climate bank, and projects like the ones we approved today help us tackle climate change and its consequences, a challenge that is becoming an ever more urgent priority for Europe and the world.”